Neal Templin

speaker

97 appearances 1 recordings 1 series first heard May 2021 last heard May 2021

Neal Templin’s voice in public audio — every appearance, attributed to the second.

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You know, the number of people waiting is growing, but still there are fewer people that are taking it at age 62.

But there still are not a huge number of people that are going all the way till 70.

And it's only like 6% of people go all the way till 70 to maximize their benefits.

So, I mean, a lot of people, I think, worry about the wrong thing.

Gee, I put all this money into Social Security.

I want to start taking it out.

What happens if I die early?

This is insurance.

When you buy insurance on a house, you don't think, I'm wasting money, the house isn't going to burn down.

You are buying insurance in the event that your house catches on fire or something happens to it.

This is the same deal.

If for some reason you die early, other people are going to live much longer.

You just don't know whether you're going to be a person that dies soon after retirement or a person that lives to 100.

And if you're in that latter category, this is the best insurance you can get to protect yourself or your spouse.

A lot of people, as soon as they stop working, essentially don't have savings.

So they're going to have to start claiming Social Security.

So if you want to make your Social Security check as big as possible, for a lot of households, that means working as long as possible.

You know, there's another issue, and it just depends on your earning history.

But Social Security, the size of your check is based on your 35 top earning years.

So if you're making a good salary in your 60s, working several more years will result in a bigger check.

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